Laptops Market Expected to Reach $257.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Laptops Market," The laptops market was valued at $168.64 billion in 2021, and is estimated to reach $257.4 billion by 2031, growing at a CAGR of 4.4% from 2022 to 2031.

A laptop is a small, portable PC with components integrated into it. It is a laptop computer with an integrated screen monitor, keyboard, webcam, CPU, and trackpad. Regular duties like formal work, education, gaming, internet browsing, and enjoyment are frequently carried out on laptops. It is also compatible with a variety of peripherals, including trackballs and joysticks. It is designed for low power usage and is powered by a battery and an alternating current (AC) connection.  High-performance laptops with sophisticated software and hardware components are utilized for advanced activities including 3D rendering, coding, graphic designing, and audio and video editing. Furthermore, laptops are more portable and more reasonably priced in comparison to the often-used desktop PCs. Companies adopt bring-your-own-device (BYOD) trends more frequently to streamline operations, which is causing the industry to grow. Other growth-promoting technological developments include the creation of smart batteries, which offer continuous power for an extended period of time. These batteries have the ability to regulate their voltage and current for greater operating effectiveness.

Furthermore, surge rise in adoption of laptops in educational institutions and increase in consumer demand primarily drive growth of the laptops market forecast. However, increased adoption of smartphones and tablets hamper the market growth to some extent. Moreover, rise in demand in the corporate sectors are expected to provide lucrative opportunities for laptops industry growth during the forecast period.  

Depending on screen size, 15.0" to 16.9" inch segment dominated the laptops market in 2021 and is expected to maintain its dominance in the upcoming years, owing to adoption of laptops are frequently shared among families and are used for work, school, and entertainment. However, 11" to 12.9" inch is expected segment is expected to witness highest growth, owing to extensive adoption of laptops market by establishing offer the highest performance and productivity and each has a different set of features. 

Region-wise, the laptops market size was dominated by North America in 2021 and is expected to retain its position during the forecast period owing to the adoption of new technology and heterogeneity aiding the growth of the laptop market. However, Asia Pacific is expected to witness significant growth during the forecast period, owing to adoption of laptops has been fuelled by trends like work from home and online learning, which is expected to fuel the market growth in this region.

Due to the impact of the pandemic on the economy, many businesses around the world have been compelled to drastically and quickly change how they operate. The COVID-19 induced recession is having a significant impact on industries all over the world, but it had a much less impact on the technology industry than it did on the rest of the economy. Lockdowns have aided the spread of new technology like laptop and PCs.  Laptops assist in managing business operations efficiently while enhancing corporate agility, optimizing procedures, and guaranteeing the future of organizations. This development fuels the market expansion during the forecast period. For instance, in 2021, Acer partnered with Dixon Technologies for the manufacturing of laptops at Dixon's state-of-the-art manufacturing facility and have the capacity to manufacture up to 500,000 Acer laptops annually. In addition, there has been a downturn in the economy for many businesses, and many planned projects and expenditures have been halted or put on hold due to COVID-19 restrictions. Numerous manufacturers nevertheless invested in laptops despite the financial danger during the global pandemic to improve corporate operations with the digitalized workplace. 

KEY FINDINGS OF THE STUDY 

• By type, the traditional laptop segment accounted for the largest laptop market share in 2021. 

• On the basis of screen size, the 15.0" to 16.9" Inch segment generated the highest revenue in 2021. 

• On the basis of design, the others segment generated the highest revenue in 2021. 

• On the basis of end user, the personal segment generated the highest revenue in 2021. 

• Region-wise, North America generated the highest revenue in laptops market share 2021 

The key players profiled in the laptops market analysis are Acer Inc., Apple Inc., Asustek Computer Inc., Dell Technologies Inc., Haier Inc., Hewlett Packard Enterprise Company, Lenovo, Samsung Electronics Co Ltd, Sony Corporation, and Toshiba Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the laptops industry.